Re Contract

Balfour Beatty PLC 23 June 2003 BALFOUR BEATTY APPOINTED PREFERRED BIDDER BY NETWORK RAIL FOR RENEWALS CONTRACTS LIKELY TO BE WORTH APPROXIMATELY £90 MILLION PER ANNUM Balfour Beatty, the international engineering, construction and services company, announces today that Balfour Beatty Rail Infrastructure Services has been appointed preferred bidder by Network Rail for a number of five-year plain line track and switch and crossings renewals contracts due to begin in April of next year. These contracts are likely, in aggregate, to be worth approximately £90 million per year. There is an option for the contracts to be extended by a further five years. The contracts involved are for plain line track renewals in Anglia and Southern Regions and switches and crossings renewals in London North Eastern, Anglia and Scotland and in the Southern Region. Commenting today on these awards, Balfour Beatty Chief Executive Officer, Mike Welton, said: 'We are delighted to become preferred bidder for a substantial proportion of the new renewals programme aimed at improving the condition of Network Rail's assets. We look forward to working with Network Rail in improving the efficiency of renewals delivery and helping to deliver a safe and efficient railway.' The plain line contracts are for the replacement and renewal of life-expired sections of track, typically from 100m to 3,000m in length. Switches and crossing contracts are for replacement and renewal work at junctions. Enquiries to:- Tim Sharp Tel: 020 7216 6800 Notes to Editors: Balfour Beatty is a major supplier to Network Rail. In addition to its maintenance and renewals work, it is the UK's principal manufacturer of switches and crossings, supplies specialist plant and equipment and carries out major rail project development including, currently, the electrification of the West Coast Main Line and substantial work on the Channel Tunnel Rail Link. About half of Balfour Beatty's rail work is undertaken outside the UK. The Group has substantial rail business presences in the USA, Germany, Italy, Sweden, Portugal, Spain, Austria, Greece, Brazil and Malaysia. This information is provided by RNS The company news service from the London Stock Exchange
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